Loan against property in India

Loan against Property


Loan Against Property can be taken for Expanding your business, Get your child married, Send your child for higher studies, Fund your dream vacation, Fund Medical Treatments.
Loan Against Property is a secured multi-purpose loan with larger purpose and lesser rate of interest.
Loan against property is calculated based on two important points viz:- Value of the property you own and your repayment capacity.

Loan against property is disbursed as per below criteria:

Residential Property:-
Self Occupied – 65%
Vacant - 55%
Rented - 55%

Commercial Property:-
Self Occupied – 50%
Vacant - 40%
Rented - 40%

 

Max. Age:-
For Salaried – 60 Years.
For Self-Employed – 70 Years.

 


Banks

up to 30 lacs

30-75 lacs

75 lacs & above

Processing fees

Axis Bank

11.25%

11.25%

11.25%

1%

PNB HFL

11%

11%

11%

1% of the loan amount

HDFC

11%

11%

11%

1%+ service Tax

ICICI Bank

11.50%

11.50%

11.50%

1% + service tax

India Bulls

11.50%

11.50%

11.50%

1%+service Tax

Ing vysya

12% to 13%

12% to 13%

12% to 13%

1%

Features of Loan Against Properties


Loans starting from Rs 2 Lakh onwards.
Disbursement up to 70% of market value of the property.
EMI based loan or an overdraft facility.
Longer payment tenure for ease of repayment.
Attractive interest rates.
Simple and speedy processing.
Loan for salaried & self-employed individuals.

Advantages of Loan Against Properties


Cheaper than personal loans because of lower interest rates
Longer repayment tenure
Easy documentation , fast approval

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